The True Cost Of Running Your Office
- Are you currently occupying conventional office space and are preparing to re-sign your lease?
- Are you thinking of occupying conventional office space, but don't know what the running costs will be?
- Do you simply want to be informed when deciding between serviced and conventional offices?
- Does your business plan need to be updated with realistic costs of running the office?
If you can answer yes to any of these questions then you might find the following information useful.
Like most businesses, your attitude to risk has probably changed recently. Arguably, the biggest risk, and constraint, to small businesses is being tied into a fixed office arrangement. After all, do you know what the next year will bring, let alone the next 10 years (ie a typical lease term)? If your business takes an unexpected downturn then how much will it cost your business to exit the lease? Conversely, but perversely similarly, when your business grows you might find yourself looking to resize - but what is the cost of an early release from your lease? Flexibility is clearly the solution.
Serviced offices offer the most adaptable and convenient solution for office space, we know this, after all it is what we do. But we wanted to determine once-and-for-all if and when serviced offices are less expensive than conventional office space. Our aim therefore was to quantify the true cost of running an office. We started by creating a simple financial model that would allow us to compare serviced versus conventional costs, which we could use for our own sales activities. But it soon became clear that we were creating something that could be a very powerful decision assisting or business planning tool for small business owners.
So, how much is your office costing your business and is there a lower cost alternative? If you would like to find out once-and-for-all, then you are welcome to use our cost comparison model free of charge. This can be accessed by clicking on the above link (see icon). This model will demonstrate to you unequivocally which is the right option for your business - and it might just convince you that it’s better not to sign that lease. In return all that we ask is that you drop us an email to tell us what you think of the model and if it has been of use to you. Please note, no information is gathered about you from the model or our website.
We believe that serviced offices are the lowest cost option, but cost isn't the only consideration you will take into account when deciding which option is best - here are some other compelling reasons:
Tangible: Cost savings |
Intangible: Flexibility/scalability |